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Time to Encourage Foreign Real Estate Investor

Time to Encourage Foreign Real Estate Investor
Nova Property

Ağaoğlu Group of Companies President of Group Business Development / Executive Board Member Burak Kutluğ offered 5 concrete suggestions in his speech at the 5th Construction and Housing Conference. “Providing competitive incentives compared to alternative countries, introducing VAT, stamp and duties exception, inclusion of the industry in foreign exchange earning services, leverage and encouraging promotional activities for foreign sales.”

Kutluğ stated that the construction sector was the locomotive of the Turkish economy and that it provided export revenue without importing in recent years at the Construction and Housing Conference which was held for the fifth time.

burak kutlug construction and housing conference
Ağaoğlu Group of Companies President of Group Business Development / Executive Board Member Burak Kutluğ

Burak Kutluğ, in his speech titled “What Regulations Should Increase Foreign Investors’ Confidence“, found 5 concrete proposals to create competitive incentives in foreign sales. Kutluğ; “Providing competitive incentives in comparison with other alternative countries in terms of corporation tax and income tax, introducing VAT exemption in housing purchases in order to reduce the cost of direct foreign investors and increase the profit, providing stamp duty and foreign exchange exemption within the scope of foreign exchange earning service and leveraging financial instruments based on real estate should be entirely encouraged not only by individual efforts but also within the scope of promotional activities.”

Burak Kutluğ went on to say: “It is now clear that the real estate sector is one of the most important foreign exchange earning services. The sector must understand that foreign demand is not a temporary demand, but that there will be a regular demand from now on and the strategies should be formed in this direction. Instruments such as rating, approved intermediaries should be developed to protect foreign investors from making investments that could be victimized. It is necessary to sharpen the scope of citizenship and to launch international publicity activities. We should act in the fact that there are many options for foreign investors in the world “. Kutluğ added, “There are countries granting citizenship or residence permit other than Turkey. When we analyze countries such as Spain, Portugal, Greece and Malta, we see that the most favorable conditions are provided in Turkey. Many are satisfied with the residence permit instead of citizenship. I think that the other examples in the world are examined and the right decision has been made. Although it was late in terms of timing, an extremely positive step has been taken. This will increase our share in the past.”

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